Attachment U
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~ITY OF MIAMI BEACH
.1'( l-'ALL 1700 CONVENTiON CENT2R ORNE MIAMI 8EACH. FLORIDA 33139
nrto:\\ci.miam i-oeach.:J. us
COM)rrSSIO!'o' :VI:E)IOR-\...''-Dt~I NO.
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TO:
Mayor Neisen O. Kasdin and
iYlembers of the City Co
DATE: July 1,1998
FROM:
Sergio Rodriguez
City Manager
SUBJECT:
A RESOLD ON OF THE lVL~YOR Ai~'D CITY COMlVIISSION APPROVL.'iG
REALLOCATION OF PARKS BOND Flii'l'DS IN THE A:."IOl.JNT OF
51,192,583 FOR Il\'IPROV'ElVIENTS IN SOUTH POINTE PARK AND
\V ASHINGTON PARK TO OTHER ACTIVITIES IN THE PARKS BO~'D
PROGR>\.lVI
RECOMlVlEl'i1>A TION
Adopt the Resolution.
BACKGROUND
The Administration, at Commission direction, has attempted to maximize the effectiveness of the
City's 515 million park bond issue. These limited funds must be spread City-wide in order to
accomplish the necessary improvements.
The Parks Bond allocated ftmding in the amount of5900,659 for South Pointe Park (partial funding)
and $291,924 for Washington Park. (The Parks Master Plan program identified the need for
54,050,726 for South Pointe Park and 5466,757 for Washington Park, a total ofS4,517,483).
The Administration has recommended that the balance of the improvements in South Pointe Park
be funded through the tax increment financing (TIF) available to the South Pointe Redevelopment
area as those ftmds become available. In the presentation before the Finance and Capital
Improvements Committee on March 26, 1998 regarding the availability ofTIF' for South Pointe, S4
million was identified to fund completion of the improvements. By increasing this amount of
54,517,483, in the RDA budget for South Pointe, the City funds in the amount of51,192,583 could
be freed up to be utilized in other parks in the City.
\Vith regard to the shortfall in funding for Washington Park, these improvements were not included
in the TIF budget. This park is located \vithin the boundaries of the South Pointe area and
appropriation ofTIF for this purpose is a legitimate use ofTIF funds.
AGE:"lDA ITE)I
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497
DATE
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ANAL YSTS
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Tne Administration, after analysis of the needs of the other activities in the Parks Bond program,
recommends that the $1,192,583 currently allocated for South Pointe and Washingt.on Park, be
reallocated to' other City parks. A companion item on the RDA agenda today recommends fully
funding those improvements in the amount of$4,517,483 from TIF. This appropriation will enable
additional activities to be completed in other locations with Parks Bond proceeds. It is anticipated
that the TIF necessa..-y to implement the renovations in South Pointe Park and "Washington Park
should be available in the next t\Vo to three years.
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The Administration presented the item to the South Pointe Advisory Board (SP AB) at its June 25,
1998 meeting. The SP AB members felt uncomfortable \Vith the reallocation of the funds until such
time as the Portofino Settlement Agreement is final. The SP AB made a motion that: "they do not
support the allocation of parks bonds funds from South Pointe to other areas of the community at
this time."
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In summary, the-Administration supports the reallocation of $ 1,192,583 from South Pointe and
Wasbington Park to other Citywide park needs.
CONCLUSION
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The Administration recommends that the Mayor and City Commission adopt the attached resolution
reallocating the $1,192,583 of Parks Bond funding from South Pointe Park and Washington Park
to other projects in the Parks Master Plan.
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